The process for selecting and determining the correct insurance coverages for a consumer's home, automobile and other property is a cumbersome, difficult and time consuming task. Consumers are faced with many variations in insurance product offerings, a very large array of available coverage levels and differing state mandated coverage level requirements which to navigate through. For example, for any given coverage there may be many different variations in features and options such as in the case of automobile insurance amounts for bodily injury coverage, property damage coverage, medical payment coverage, uninsured/underinsured motorist coverage, etc. Selecting the appropriate combinations and levels for each of these coverages to fit an individual's personal financial situation is a very difficult task.
Accordingly, consumers cannot readily and accurately determine what coverage levels would be appropriate for their personal circumstances. For example, recommended coverage levels vary greatly based on each specific individual's personal assets and income levels in conjunction with the underlying state mandated coverage requirements. Current systems and engines only provide very generalized recommendations based on a basic rudimentary analysis of each individual. In these prior art systems, many factors crucial to making accurate personalized coverage offerings are typically not considered. Furthermore, prior art systems do not supplement or validate the personal financial information to provide more accurate coverage recommendations for an individual consumer. Accordingly, it would be desirable to have a way to provide consumers with accurate recommendations for insurance coverage levels in an intuitive, user friendly and efficient manner.